December 26, 2008

Market Review and Commentary for December 26, 2008

DISCLAIMER: These are trades I am doing and may not be right for
you. Use your own Due Diligence when making financial decisions of
your own choosing. This is NOT a recommendation of any security.
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The VIX has been forming a Flag pattern and appears it will trade lower- hence the market will trade higher:

[VIX- 12-26-08]

The 8383 level on the DOW has held as the target for the current pullback as I mentioned in the last 2 updates and so we’re looking at a continuation of the uptrend started on November.

My target for this rally is still 9146 to 9250:

[DOW -12-26-08]

This won’t last long though and I’m pretty sure that the probabilities are high that another leg down is in the cards for this market soon.

Trade With Confidence